VRS 80 Years Celebration & Overview

Adding Value Multiple Ways Total Fund 10-Year Value Add As of 3/31/2022 Cost Savings Implementation As of 3/31/2022 RS Virginia Retirement System 80 Basis Points Source: BNY Mellon Data, 3/31/22 Effective Cost Management As of 12/31/2020 7.3 6,644 $MM Source: BNY Mellon Data, 3/31/22 61.0 ■Public External ■Public In-House ■Private Fee-Advantaged Implementation Private Traditional In-House Management Fee Savings As of 12/31/2020 4.9 40.9 Basis Points SMM Basis Points SMM Source: CEM, CY2020 Source: CEM, CY2020 22

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